Warsaw blue chips avoid further losses

24-06-2008, 19:41

Warsaw (Puls Biznesu) – Although blue chips managed to end up, the Warsaw Stock Exchange ended in the red today. The volume of trade rose which is bad news.

Mid-capitalization companies were losing all day long. 32 companies out of mWIG40 index ended up. The index itself lost 2 percent and is trading 52 percent below its high reached last year. In the morning, it seemed that the WSE would rebound after its Monday decrease when it was one of the weakest markets in Europe. The WIG20 index opened 1 percent up. Then, however, the index started to fall and was trading in the red nearly all day long. However, it ended 0.1 percent up despite strong losses in the USA.

KGHM copper producer paced the advances with 1.6 percent increase. PKO BP rose 0.8 percent. Media companies, including Agora and TVN also managed to avoid losses. Hadn’t it been for PKN Orlen fuel giant which lost nearly 1.5 percent, the WIG20 index would have had much a better result on Tuesday. However, despite high oil prices, all fuel companies were losing. Grupa Lotos was among the worst performers with 6 percent decrease.

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